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LONDON - Diageo PLC (LON:DGE) announced on Wednesday that Chief Executive Officer Debra Crew has stepped down from her position and as a Board Director with immediate effect, by mutual agreement.
The alcoholic beverage company has initiated a comprehensive formal search process for a new CEO, which will include both internal and external candidates. Chief Financial Officer Nik Jhangiani will serve as interim CEO until a permanent replacement is appointed.
Crew had been leading Diageo as CEO since June 2023. She initially joined the company as a non-executive director in 2019 before serving as President of Diageo North America and subsequently as Group Chief Operating Officer.
"On behalf of Diageo and the board, I would like to thank Debra for her contributions to Diageo, including steering the company through the challenging aftermath of the global pandemic and the ensuing geopolitical and macroeconomic volatility," said John Manzoni, Chair of Diageo.
The company stated that its financial guidance for fiscal years 2025 and 2026 remains unchanged from what was communicated in its Q3 Trading Statement on May 19, 2025. Diageo plans to report its fiscal 2025 full year results on August 5 as scheduled.
Diageo, which owns brands such as Johnnie Walker, Guinness, and Smirnoff, emphasized in the press release that the board’s focus is on securing the best candidate to lead the company forward.
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